U.S. President Joe Biden visits the capital of the nation’s automobile industry Wednesday to promote his administration’s push to shift the country toward electric vehicles.
Biden will use his appearance at the iconic Detroit Auto Show to talk about new incentives for consumers to buy EVs under the new Inflation Reduction Act, including a $7,500 tax credit.
The newly enacted law also requires U.S. automakers to use EV batteries produced in North America and to use natural minerals used in the batteries to be produced or recycled on the North American continent. The provisions are aimed at creating a regional supply chain and to reduce economic dependence on China and other countries.
The nation’s so-called “Big Three” automakers – General Motors, Ford and Stellantis, formerly known as Fiat Chrysler – have already announced plans to build EV and EV battery plants across the United States and in Canada. Japanese automakers Honda and Toyota have also announced plans to build EV battery plants across the U.S.
This year’s edition of the Detroit Auto Show is the first since January 2019, a year before the emergence of COVID-19.